Joe Biden Will Invest $10 Billion in Minority-Serving Incubators That Connect Students to Jobs in Fields Where They Are Underrepresented

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Photo: HBCU Digest
Photo: HBCU Digest

A Biden administration would invest over $70 billion in the Historically Black Colleges and Universities and Minority-Serving Institutions.

As a part of this investment, Biden hopes to designate $10 billion in the creation of at least 200 “centers of excellence” that connect students to jobs in fields where minorities are underrepresented. He would also offer free tuition to students attending HBCUs whose families earn less than $125,000 per year.

Biden also plans to make a $50 billion investment in venture capital to Black and Brown entrepreneurs through funding for state and local initiatives.

According to Biden, people of color “can never have a fair shot at the American Dream so long as entrenched disparities are allowed to quietly chip away at opportunity.”

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Biden’s plan also includes allocating $150 billion to be invested in minority businesses, a minimum wage increase to $15 an hour, the elimination of cash bail, and temporary housing for formerly incarcerated people upon release from prison.